Gerald Celente of the Trends Research Institute is strongly opposed to the idea of Ben Bernanke seeking and getting a second term as head of the Federal Reserve. Celente strongly argues that Bernanke is creating the “bailout bubble” and destroying the U.S. economy. But he says the Fed Chief will get to keep his job because he’s an “insiders.” According to Celente, the fact? that Bernanke is being put back in charge after royally screwing things up is more proof to his argument. He also argues that whether the Fed chairman is too powerful or not, Americans remain quite skeptical and continue to be very critical about the Fed’s ability to keep things under control.
Watch how the “Bernanke second chance” question sets Celente off.
This is reprinted from Wall Street Pit.